Cover and cook for 5 minutes, until carrots are tender. Uncover and continue to cook, stirring occasionally, until liquid evaporates and carrots are just starting to brown, about 5-10 minutes.

Transfer half of the carrots to a bowl and set aside. Puree the rest with 3/4 cup warmed stock in a food processor or blender.

Heat remaining 3 tablespoons butter over medium heat in the same pot that you caramelized the carrots in. Add the minced onion and thyme, and cook until translucent, about 3-5 minutes. Add rice, and stir with a wooden spoon to coat completely.

Stir in wine and scrape up any browned bits on the bottom of the pan. Continue to stir until liquid has evaporated almost completely, about 5 minutes. Add carrot puree and stir occasionally until liquid is almost completely absorbed, about 3-5 minutes.

Add 1/2 cup broth and stir frequently until liquid is almost completely absorbed, about 5 minutes.

Repeat this process of adding stock and stirring often 4-5 times, until the rice is al dente. You may not need to use all of the stock.

Fold in the reserved carrots, ricotta, 1/4 cup grated Pecorino, and 1 tablespoon finely chopped parsley. Season with salt and pepper to taste.